All posts tagged China

The number of Russian intelligence officers operating in the Czech Republic increased “steeply” last year amid worsening relations between Moscow and the West, the secret service of this North Atlantic Treaty Organization’s member state said in its annual report released Monday.

The Czech spy-watching agency, known under its acronym BIS, has repeatedly warned about the presence of Russian spies, saying they used diplomatic covers at Russia’s embassy in Prague or settled down in the country through purchasing property in the Czech capital.

“In 2013, the number of such officers at the Russian embassy was extremely high,” the BIS report said. Read More »

MOSCOW—Russian President Vladimir Putin says the government should recapitalize OAO Gazprom to help it pay for infrastructure to ship gas to China, but it is not, however, clear where the government will get the cash from. Read More »

Hungary’s exports to China are expected to increase after local companies received permission to transport frozen duck, goose and pork to the country.
The announcement is in line with Hungary’s policy to establish stronger trade links with Asia, with food products a priority, senior external trade official Péter Szijjártó said Friday.
The Chinese accreditation body granted six Hungarian companies permits to export frozen goods to China, where demand is increasing for high-quality food products.
Hungary’s exports to China amounted to 444 billion forints ($1.98 billion) last year, up 9% from 2012, data by the central statistics office indicate.
Hungary’s food, tobacco and liquor exports totaled $8.78 billion last year, up just 5% compared with the previous year.
A Hungarian delegation led by the prime minister recently visited China in a bid to strengthen trade links between the two countries. Read More »

Skoda Rapid Spaceback, a compact-sized station wagon, launched in 2013

Car maker Volkswagen AG’s Czech unit, Skoda Auto AS, said Thursday that global sales hit a record high in October, driven by a surging demand in Europe for its renewed model range.

The results bolstered hopes of a sustained rebound from poorer sales earlier this year, providing a much needed boost for the Czech economy after a disappointing performance in the third quarter.

“Worldwide sales growth has confirmed the strength of our brand and the appeal of our refreshed model line-up,” said Werner Eichhorn, a Skoda Auto board member in charge of sales. “With eight new and reworked models Skoda Auto has reached another record despite difficult market conditions.”

Skoda Auto sold 83,800 cars in October, up 7.5% from 78,000 in the same month last year. Overall, in the 10 months through to the end of October, sales dropped 3.3% on the year to 768,700, as customers held back for the release of the car maker’s new models.

Skoda Auto is the country’s biggest exporter and a bellwether for the local automotive- and electronics-centered economy. Its October sales bode well for the overall Czech economy through the year end after an unexpected contraction in the three months to end-September. Read More »

Czech producers of genuine Saaz hops are taking an upbeat attitude at harvest time as foreign demand and new niche markets present opportunities they hope will offset challenges caused by European agricultural policy and bad weather.

China, now the world’s largest beer market, has recently become the second-largest importer of Czech hops, a crop that has been a part of the country’s culture and economy since at least the 10th century.

Additionally, all major Japanese brewers continue to use genuine Czech hops for their premium brews and the island country remains the single largest export market for its Czech hops.

“We use [genuine] Saaz hops because they have a mild flavor, not bitter and not too strong, and the aroma is also mild. And in the future we want to continue using good-quality Czech hops for our premium products,” said Hiroo Matsui of Suntory Liquors Ltd. beer development division.

Saaz are “fine aroma” type hops, used to impart a mild yet distinctive aroma that gives lager (also called pilsner) beer its distinctive bite. They are native to the Czech city of Zatec, called Saaz in the German language, located about 50 miles north-west of Prague, and have been cultivated there for at least half a millennium. Read More »

Russian state gas firm OAO Gazprom said Thursday it had moved a step closer to making China its largest customer by persuading Beijing that prices shouldn’t be linked to a hub based thousands of miles away in Louisiana.

In a sign of the global reach of the shale-gas revolution that has propelled the U.S. ahead of Russia as the world’s largest gas producer, China National Petroleum Corporation had wanted to link the price for the potential deal to the U.S. benchmark Henry Hub. New techniques have allowed producers in the U.S. to tap gas trapped in rock, creating a surge in volumes and driving the price lower at the Louisiana-based hub.

Russia has been in negotiations with China for years on supplying gas, but talks have been hamstrung by disagreements over price. Gazprom and CNPC signed an agreement Thursday that set out almost all conditions for the deal, including the pipeline route and volumes for deliveries—just not the price.

But Gazprom was clear on one thing: They’d agreed there’d be no link to Henry Hub. Read More »

China is ready to double bilateral trade with Poland over the next five years, Chinese Prime Minister Wen Jiabao said Wednesday.

Mr. Wen and Polish counterpart Donald Tusk met in Warsaw. It is the first of a two-day visit and part of the Chinese premier’s trip to Europe.

“Over the past years, in the face of challenges brought by the international financial crisis and the euro debt crisis, Poland has experienced stabilization and growth, became the world’s 20th-largest economy, and enjoys growing influence in European and international matters,” Mr. Wen said, adding that his country is ready to consider ways to cut Poland’s trade deficit with China. Read More »

Hungary is looking to boost the volume of bilateral trade with China to $20 billion from the current $8 billion to $10 billion by 2015, Development Minister Tamas Fellegi said in a parliamentary hearing.

“Given the economic conditions in western Europe, Hungary’s traditional allies, we had to open to the east,” Mr. Fellegi said.

Hungary has been actively pursuing better ties with China, underscored when Chinese Premier Wen Jiabao paid an official visit to Budapest last summer. The Hungarian capital was one of three European countries where Mr. Wen spent time.

Mr. Fellegi stressed that China has showed heightened interest in Hungary. Investments already completed involve bases established by telecommunications-equipment makers Huawei and ZTE, while Wanhua Industrial Group became the sole owner of Hungarian chemicals company Borsodchem. Read More »

ST. PETERSBURG — Business leaders and politicians descended on St. Petersburg, Russia, on Thursday for a conference that the Kremlin has increasingly used to drum up much-needed inward investment.

However, Russian President Dmitry Medvedev and Prime Minister Vladimir Putin appeared to have failed to net what would have been this year’s biggest prize — a massive, multiyear deal to export natural gas to China, finally linking the dominant force in European energy markets to the world’s fastest-growing energy consumer. Last-minute negotiations in Moscow between Mr. Putin and Chinese President Hu Jintao ended without any agreement on the price that China is prepared to pay for the gas.

After years of easy money before the crisis, in which Russia became increasingly complacent about its need to compete for investment, the government has started a new charm offensive to lure investors. The International Monetary Fund warned last week that the country’s economic growth risks stalling around 4% to 4.5% if it sticks to its current policies — well below pre-crisis rates, and below the present average growth rates for emerging markets. Read More »

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Emerging Europe Real Time provides sharp analysis and insight into what’s making news in Central and Eastern Europe. Drawing on the expertise of our reporters in the Czech Republic, Hungary, Poland, Russia and Turkey, the site provides an inside track on economics, politics and business in this emerging part of the European continent.